Natural gas tumbled on global economic concerns that roiled the broader commodities and equities markets. Ample supplies and moderate temperatures were also pressuring gas prices lower. But if market expectations of a smaller-than-normal build in U.S. gas inventories for last week pan out, gas prices could pare losses. Natural Gas yesterday we have seen that market has moved -2.73%. Market has opened at 198.1 & made a low of 193.1 versus the day high of 201.9. The total volume for the day was at 17882 lots and the open interest was at 6338.Now support for the Natural Gas is seen at 190.9 and below could see a test of 187.6. Resistance is now likely to be seen at 199.7, a move above could see prices testing 205.2.

Trading Ideas:

Natural Gas trading range is 187.6-205.2.

Natural gas tumbled on global economic concerns

Now resistance is at 195.80 above this a rally till 197-199 can be seen.

Today natural gas storage: Exp: 79B Prev: 94B

SELL NAT.GAS MAY @ 195 SL 197.20 TGT 192.50-190.80.MCX